Motco Trims Position in BlackRock, Inc. (BLK)

Motco lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,162 shares of the asset manager’s stock after selling 1,087 shares during the quarter. BlackRock makes up approximately 1.1% of Motco’s portfolio, making the stock its 17th largest holding. Motco’s holdings in BlackRock were worth $10,871,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BLK. Invictus RG purchased a new stake in shares of BlackRock in the third quarter worth about $110,000. Tower Research Capital LLC TRC lifted its holdings in shares of BlackRock by 133.3% in the second quarter. Tower Research Capital LLC TRC now owns 280 shares of the asset manager’s stock worth $118,000 after buying an additional 160 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. lifted its holdings in shares of BlackRock by 1,119.2% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after buying an additional 291 shares in the last quarter. Oakworth Capital Inc. lifted its holdings in shares of BlackRock by 67.6% in the fourth quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after buying an additional 123 shares in the last quarter. Finally, Manchester Capital Management LLC purchased a new stake in shares of BlackRock in the third quarter worth about $156,000. Institutional investors own 83.27% of the company’s stock.

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Shares of BlackRock, Inc. (NYSE BLK) opened at $521.51 on Friday. The firm has a market cap of $85,610.00, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.37 and a beta of 1.75. BlackRock, Inc. has a fifty-two week low of $368.00 and a fifty-two week high of $594.52. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.14 earnings per share. equities analysts expect that BlackRock, Inc. will post 28.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 annualized dividend and a yield of 2.21%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is currently 33.00%.

A number of equities research analysts recently weighed in on BLK shares. Jefferies Group raised their target price on shares of BlackRock to $565.00 and gave the company a “hold” rating in a research note on Monday, January 15th. Credit Suisse Group reaffirmed a “buy” rating and issued a $680.00 target price on shares of BlackRock in a research note on Friday, January 12th. Citigroup raised their target price on shares of BlackRock to $625.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, Argus reiterated a “buy” rating and set a $620.00 price target (up from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and an average target price of $547.92.

In other news, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $477.54, for a total value of $47,754.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. Insiders have sold 5,775 shares of company stock valued at $2,983,400 in the last three months. Insiders own 1.86% of the company’s stock.

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About BlackRock

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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